Daiwa Securities Group Inc. Buys 1,416 Shares of Fox Co. (NASDAQ:FOXA)

Daiwa Securities Group Inc. boosted its stake in shares of Fox Co. (NASDAQ:FOXA) by 5.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,670 shares of the company’s stock after purchasing an additional 1,416 shares during the quarter. Daiwa Securities Group Inc.’s holdings in FOX were worth $1,020,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its position in FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares during the period. UMB Bank n.a. grew its stake in shares of FOX by 254.4% in the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock worth $35,000 after acquiring an additional 809 shares during the last quarter. Friedenthal Financial acquired a new stake in shares of FOX in the second quarter worth $51,000. Duncker Streett & Co. Inc. acquired a new stake in shares of FOX in the second quarter worth $52,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of FOX in the first quarter worth $66,000. Institutional investors own 52.52% of the company’s stock.

FOX Stock Up 1.9 %

Shares of NASDAQ FOXA opened at $39.66 on Monday. The stock has a market cap of $18.25 billion, a PE ratio of 12.43, a PEG ratio of 1.78 and a beta of 0.76. The business has a fifty day moving average of $38.68 and a two-hundred day moving average of $34.42. Fox Co. has a 52-week low of $28.28 and a 52-week high of $41.58. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the business earned $0.88 earnings per share. As a group, equities research analysts expect that Fox Co. will post 3.72 earnings per share for the current fiscal year.

FOX Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a $0.27 dividend. This represents a dividend yield of 1.4%. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 4th. FOX’s payout ratio is currently 16.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FOXA shares. Macquarie raised their price objective on shares of FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Rosenblatt Securities raised their price objective on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group raised their target price on FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on FOX from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $29.00 to $46.00 in a research report on Friday, August 16th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $38.23.

Insider Activity at FOX

In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The disclosure for this purchase can be found here. 21.77% of the stock is currently owned by company insiders.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional cable television systems, direct broadcast satellite operators, and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.